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| Thread ID: 83802 | 2007-10-14 00:10:00 | Is The New Depression Allready Here? | SurferJoe46 (51) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 601173 | 2007-10-14 03:56:00 | So one of people owing another lot of people a lot of money is the cause of a depression? Usually when one or a few of the following conditions is met: 1) a guerre politique 2) the borrowers don't pay on time or only pay on the interest 3) the lenders "call" the debt 4) major catastrophe that needs serious cash transfusions 5) interest rates get too high or float from balloons and defaults happen 6) nuclear war 7) property values hold steady or decrease (remote chance of that happening!) 8) and a very arguable point: a poor-rated political election and a general loss of faith in the current regime/officers. |
SurferJoe46 (51) | ||
| 601174 | 2007-10-14 04:06:00 | Winner gets a free wheelbarrow full of currency from the country that goes mammaries-up first . I will swop you a wheelbarrow of Zim$ for a packet of peanuts . . . . . . . . . . . . |
joemac (9739) | ||
| 601175 | 2007-10-14 04:13:00 | No Cicero he won't be available: news.bbc.co.uk |
zqwerty (97) | ||
| 601176 | 2007-10-14 04:17:00 | Usually when one or a few of the following conditions is met: 1) a guerre politique 2) the borrowers don't pay on time or only pay on the interest 3) the lenders "call" the debt 4) major catastrophe that needs serious cash transfusions 5) interest rates get too high or float from balloons and defaults happen 6) nuclear war 7) property values hold steady or decrease (remote chance of that happening!) 8) and a very arguable point: a poor-rated political election and a general loss of faith in the current regime/officers . Over here Joe I think we’ve had five finance companies go belly up in the last couple of months taking with them many investors’ life savings . The blame in every case as far as I know was put down to motor vehicle finance, with, in the case of Bridgecorp, a bungled overseas development . Unlike Credit Cards, these loans were supposedly secured against assets, but that didn’t help because either the assets couldn’t be found of weren’t worth recovering . Have you any idea what Americans credit card debt is? |
B.M. (505) | ||
| 601177 | 2007-10-14 04:51:00 | Most people are about $10,000.00USD in plastic debt. I am about $60,000.00USD in mortgage debt..but that's low by today's standards....VERY low. I don't have total numbers, just a sprinkle of percentages. Most homes here are over $400,000.00 up to $900,000.00USD. These are not owned by millionaires. These are just 9-to-5 workers, but most have a spouse that works too. It's getting bad here but we don't have bank runs or institutional failures yet. The FICA insures all deposits up to $200,000.00USD for each account, no matter how many a person might have if they are all at or less than the insured amount. That FICA insurance is as good as the government it is backed by...so if it goes, so does the money. |
SurferJoe46 (51) | ||
| 601178 | 2007-10-14 05:10:00 | The news re "Northern Rock" is old news . The date on the article is 21 Sept . Since then the UK govt has guaranteed the deposits . In any case the assets that Northern Rock held were more than enough to cover the deposits . It was essentially a cash-flow problem . Northern Rock will now almost certainly (if it has'nt already) been bought out . They just moved too far too fast ! The world economy now depends a lot less on the American economy . China, India and to a certain extent the European Union are very important now too . At the moment they are all relatively strong . Here in NZ we have had, eight I think at the last count, finance institutions going into receivership so people are shifting their cash into safer investments such as banks . Unfortunately we tend to have a bit of an aversion to putting too much personal investment into the stock market . This is because of the 1987 crash which hit NZ harder than the rest of the world . Nevertheless the NZ stock market has done very well over the last five years . The above is written from memory but I am sure would be very accurate reflection . As a NZ'der from 1965, but with Scots ancestry I take a keen, if amateur, interest in the wider aspect of finance and economics . Whew !! Misty ;) :2cents: :cool: |
Misty (368) | ||
| 601179 | 2007-10-14 19:53:00 | No Cicero he won't be available: news.bbc.co.uk I knew he was on way out,the point was his attitude I thought would be up your alley seeing as how you are both reds. |
Cicero (40) | ||
| 601180 | 2007-10-14 19:59:00 | Usually when one or a few of the following conditions is met: 1) a guerre politique 2) the borrowers don't pay on time or only pay on the interest 3) the lenders "call" the debt 4) major catastrophe that needs serious cash transfusions 5) interest rates get too high or float from balloons and defaults happen 6) nuclear war 7) property values hold steady or decrease (remote chance of that happening!) 8) and a very arguable point: a poor-rated political election and a general loss of faith in the current regime/officers . Cause of depression, borrowers don't pay on time,that makes sense . lenders want money back,governments are aware that this didn't go down well in past,but are ready and willing to act today . All the rest of your ideas largely are not going to be the cause . |
Cicero (40) | ||
| 601181 | 2007-10-14 21:33:00 | That thing being back for another mayoral fiasco is pretty depressing for anybody living between the harbours in Auckland. However, it will distract attention from the economy. | R2x1 (4628) | ||
| 601182 | 2007-10-15 00:39:00 | Cause of depression, borrowers don't pay on time,that makes sense. lenders want money back,governments are aware that this didn't go down well in past,but are ready and willing to act today. All the rest of your ideas largely are not going to be the cause. Yeah but a nuclear war would put a crimp on the financial week anyway. |
SurferJoe46 (51) | ||
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